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Heat Wave Stokes Jump in Corn

Corn futures surged as a heat wave threatened Argentina, raising expectations U.S. government forecasters will cut their crop estimate for the South American country later this week.

Forecasts for little rain and temperatures above 90 degrees reignited concerns over the corn crop in Argentina, the world's second-largest exporter of the grain. Poor growing conditions have caused corn prices to surge to 29-month highs in recent weeks as expectations for crop losses in Argentina come at a time when global supplies already are...